On February 26, 2020, in In re AmTrust Financial Services, Inc. Stockholder Litigation, Chancellor Bouchard of the Delaware Court of Chancery denied a motion to dismiss claims that AmTrust’s controlling stockholders and allegedly self-interested members of the AmTrust board’s special committee breached their fiduciary duties in connection with a November 2018 merger in which AmTrust’s controlling stockholders teamed up with a private equity firm to take AmTrust private. The Court concluded that the special committee may have had a material self-interest in the transaction because the merger would extinguish viable derivative claims against its members in an unrelated litigation that exposed the members to significant personal liability. This was sufficient, at the pleading stage, to avoid dismissal on business judgment grounds under Kahn v. M&F Worldwide Corp.